The Ramsey Show - App - 3 Reasons Why It’s Still Worth Buying a House in this market (Hour 1)

Episode Date: November 23, 2022

Dave Ramsey & Kristina Ellis discuss: Abraham's Lincoln's Thanksgiving Proclamation, What to do when your parents want to pay off your mortgage, Whether or not it's worth buying a home in the market right now, Student loan forgiveness update. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods, moving and storage studios, it's the Ramsey Show, where debt is done, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. We help people build wealth, do work that they love, and create actual amazing relationships. Number one best-selling author, Ramsey personality Christina Ellis is my co-host today on this special Thanksgiving edition of The Ramsey Show. The phone number is 888-825-5225. If you've never been around us on Thanksgiving, Thanksgiving, among many other opportunities around here, we pretty much believe in being a cheese factory. We like cheese, and we like being cheesy,

and we own the show, so we get to do whatever flip we want to do with it. So that's what we do. So if you didn't know, there was a lady named Sarah Josefina Hale in the 1800s that ran a magazine of sorts called Goodies Ladies Book. And, of course, it was all things for ladies and what to do in the kitchen and so forth in the 1800s. She also is noted with having composed or written the nursery rhyme, Mary Had a Little Lamb. She was very famous in the 1800s, and for 30 years, every year, she wrote to the President of the United States asking them to set aside a certain day nationally for Thanksgiving. Different states had Thanksgivings. George Washington had asked for a date of Thanksgiving,

but there was not an official holiday of Thanksgiving. Finally, after 30 years, the president in 1863, Abraham Lincoln, decided that she was right and went to the Secretary of State, William Seward, which was a bit of an enemy of his, but it was on his cabinet. They were kind of crossing swords all the time, but Seward was quite a wordsmith, and asked him to create the proclamation making this a holiday. I read it every Thanksgiving on the air because it's important for you folks to remember

how this nation should operate, used to operate. This is from the President of the United States. October 3rd, 1863. The year that is drawing towards its close has been filled with the blessings of fruitful fields and healthful skies. To these bounties which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are of so extraordinary a nature that they cannot fail to penetrate

and even soften the heart which is habitually insensible to the ever watchful providence of Almighty God. In the midst of a civil war of unequaled magnitude and severity, which has sometimes seemed to foreign states to invite and to provoke their aggression, peace has been preserved with all nations, order has been maintained, the laws have been respected and obeyed, and harmony has prevailed everywhere except in the theater of military conflict, while that theater has been greatly contracted by the advancing armies and navies of the Union. Needful diversions of wealth and of strength from the fields of peaceful industry to the national defense have not arrested the plow, the shuttle, or the ship.

The axe has enlarged the borders of our settlements, and the mines, as well as iron and coal, as of the precious metals, have yielded even more abundantly than heretofore. Population has steadily increased, notwithstanding the waste that has been made in the camp, the siege, and the battlefield. And the country, rejoicing in the consciousness of augmented strength and vigor, is permitted to expect continuance of years with large increase of freedom. No human counsel hath devised,

nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God, who, while dealing with us in anger for our sins, hath nevertheless remembered mercy. It has seemed to me fit and proper that they should be solemnly, reverently, and gratefully acknowledged as with one heart and one voice by the whole American people. I do therefore invite my fellow citizens in every part of the United States

and also those who are at sea and those who are sojourning in foreign lands to set apart and observe the last Thursday of November next as a day of thanksgiving and praise to our beneficent Father who dwelleth in the heavens. And I recommend to them that while offering up the ascriptions justly due to him for such singular deliverances and blessings, that they also with humble penitence for our national perverseness and disobedience commend to his tender care all those who have become widows, orphans, mourners, or sufferers in the lamentable civil strife in which we are unavoidably engaged,

and fervently implore interposition of the almighty hand to heal the wounds of the nation and to restore it as soon as may be consistent with the divine purposes to the full enjoyment of peace harmony tranquility and union in testimony whereof i've heretofore set my hand and caused the seal of the united states to be effect to be affixed done this um done at the city of Washington this third day of October, the year of our Lord, 1863, President Abraham Lincoln. Wow, that's powerful. If it doesn't make you, regardless of your party affiliation, yearn for someone of that level of character to actually show up anywhere on the landscape, and even just drive by the White House.

Wow. Wow. It's, yeah, this is, this kind of humility and acceptance and observance. In case you didn't know, Thanksgiving is not about worshiping turkey and football, by the way. It's about saying, thank you, Lord. Thank you, God. According to Abraham Lincoln, who made this the holiday, so let me just go to the source. This is what he's saying.

He's very clear here that this holiday is about us stopping for a moment i guess we could call it a religious holiday because we're supposed to say thank you to the lord for the blessings that he's given us that's what the holiday was put in place for now you can not like that or whatever but that's the them's the facts ma'am um so this is the way it is and pretty cool uh and you've got to love the language oh my goodness if anyone spoke like that today you'd be looking at them cross-eyed like they walked out of a time machine but uh because we're all like we're all about yeah huh what what omg you know the use of language is just completely gorgeous and i mean it's just fabulous i'm not a writer and i and i wouldn't want to sit and read that type of uh lingo for three hours my eyes would cross but uh but isn't it beautiful it's beautiful and just a reminder of what they

were going through then and how grateful they were in the middle of the civil war right it's beautiful and just a reminder of what they were going through then and how grateful they were in the middle of the civil war right it's perspective wow stop and say thank you lord so uh your ticket on the air today if you want to talk about your life and your money we're here to help but your ticket on the air is what are you thankful for and cheese factory's invited And Cheese Factory is invited. Open phones at 888-825-5225. 888-825-5225. សូវាប់ពីបានប់ពីបានប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពី Christina Ellis Ramsey personality number one best-selling author is my co-host today Lacey is with us in Indianapolis hi L, Lacey. Welcome to the Ramsey Show. Thank you, Dave. What's up? Happy Thanksgiving.

Well, I... Wait a minute, wait a minute, wait a minute. I got to get in my zone here. Before I let you on the air, what are you thankful for? Oh, I'm so thankful for my parents and what a godly relationship they have and that they've pointed me to Christ. So very cool. I like that one. Good. Okay. What's up? So my parents, my wonderful parents have come to me recently and asked to pay off my mortgage. I have about $55,000 left on my home. I am completely debt free. Other than that, I'm a single 32-year-old teacher, and they are everyday millionaires. They follow your advice, and it wouldn't be a gift. It would be me paying them back, but instead of owing the bank, I would owe them at a lower interest rate. I know you don't love mixing family and money and all of those things,

but I didn't know what your thoughts were on this. I have a great relationship with them, but I'm very hesitant also. You have siblings? I do. I have a brother. Okay. I will make a suggestion before I say don't do this. Instead, I would recommend they just make it a gift and reduce your portion of the inheritance by that so that your brother is not cheated.

Okay? Now, here's the reason. A, you're not a spoiled brat. They're not making spoiled brat they're not um they're not you know they're not making your life too easy they're just taking they're just using some of their wealth to perpetuate wealth in their family tree by making you 100 debt free as a teacher at 32 which leads you into millionaire status very quickly right yes okay so that's what I would do if I were them, and I would never loan my kids money. And here is why.

100% of the time, you mentioned your faith, the Bible says, there's no caveat, it doesn't say except for mom and dad, it says the borrower is slave to the lender and so 100 of the time no matter how nice your master is no matter how good your master is you're still a slave no matter how kind they are how functional they are how good their boundaries are you are still a slave and you will feel it as john as john deloney says in body. Your body will keep score. And you'll know this when Thanksgiving dinner tastes different, when you eat with your master rather than your mama. Mm-hmm.

Yeah, that was what I was afraid of, and I was hesitant as well. I just wanted to hear. And it's not you being ungrateful and i'm not trying to talk them into if they don't want to do it at all that's fine too you have a mortgage you're okay you're not dying you're everything's good but but um i just don't want you have such a wonderful and you you outlined it three different times great relationship with them i wouldn't want to take a chance on that absolutely absolutely do you think they'll be resistant at all to just giving you the money versus lending

it they are so generous and they have gifted my brother and I both smaller portions of money in the past just as gifts to say like put this toward your mortgage or put it toward whatever you need um and and they've been very generous in that and they're very equal this is this is going to be weird for you so let's change the conversation let me give you a tool okay blame me whoa no i'm saying because if you go to them and say mom dad i got this great idea won't you give me the money instead? That's awkward, right?

Yeah, absolutely. That's weird. So just say, hey, I called Dave, and he said, don't do the mortgage. And he said the only way he would do it, if it was his kids, would be to give it. And if you don't, I don't want you to, I don't want to ask you for that. But that's what Dave said. Okay. That's a pretty big pass.

Yeah, just throw it throw it off on me i can handle it yeah so when when my mom calls in dave you'd be ready oh i'll be absolutely ready i'll be i'll be kind to her but i will tell her the truth like i always do happy thanksgiving lacey appreciate you calling in very cool stuff all right uh craig is in new york city hi craig happy thanksgiving what are you thankful for hey david christina it's a pleasure to be on the air happy thanksgiving sure what are you thankful for most i'm most thankful for uh you know jesus christ changing my life amen and amen all. How can we help today? All right. So, yeah, I'm 24 years old.

You know, my whole life I was told to buy a home. And now that I'm of age to do so for myself and my wife, you know, have a baby on the way come in January. I'm just scratching my head wondering if it's even worth it anymore. You know, where I live, I can't even buy like a burnt down shack for $350. That's the God's truth. Well, it feels a little hopeless right now for you in your particular situation and you're feeling the weight of the responsibility of the new life that's getting ready to come to you and you're like,

holy crap, this just got real. Exactly. Yeah. So all of that to say you might not be ready to buy a house today and that's okay when you're saying your whole life you've been told you should buy a house but do you want to buy a house i do want to buy a house you know the freedom of owning it is a lot nicer than you know we have a really good situation we only only pay $1,400 a month, which where we live is amazing. Oh, yeah.

That's a deal. Yeah. So, I mean, I just want to also thank you guys because you were able to pay off $30,000 of student loan debt. I can say I'm debt-free now, which is awesome. It's taken a long time to just stash away. We're about a year into the process now good for you probably have another well if you don't buy a house for two years or three years that's fine that's not the end of the world and you're in a very expensive market so it's going

to take you getting on top of the income side of things and getting a good strong down payment to make it happen let's pan back from that and say go back to your original question which kind of had a hopelessness tone to it is like is it even worth it is it even worth it well yeah it is worth it it's not worth doing it stupid it's not worth you know buying a house you can't afford and all that kind of stuff and this so take your time and do it do it with wisdom but it's worth it and here's why two things happen with homeowner three things happen with home ownership that make you want to do it as a long-term play versus renting your whole life. Number one, rents go up every year.

Since God was a boy, rents go up every year. I've had my real estate license since 1978. Rents go up every year in every market. They go up every year. They don't go down. And every year. And so every year, more and more every year and so you're going to have you know every year more and more and more your money is going to go out the door for housing

and if you buy a home and you lock down your payment your rent doesn't go up anymore that's run number one number two the value of the house goes up and when you when you rent obviously you don't own anything that's going up number Number three, as we have studied millionaires, 10,000 of them, we find the primary two things that are in their bucket that allow them to build their first million to $5 million worth of net worth is their 401k Roth IRA retirement plan and good mutual funds like we teach and a paid-for house that has gone up in value. And so getting work to pay that off. So it's a great wealth

building tool it stabilizes the largest line item in your budget which is housing and if the largest line item in your budget is going up every year that sucks yeah it definitely leaves you vulnerable but i think in your situation it's kind of important to separate things out so you've got your personal situation and thinking through is this the right timing for us? And then you have the market and the world and everything like that. Don't let your situation and thinking maybe you should wait a year or two make you start getting negative about the market, start looking at news articles, start getting hopeless. I mean, it's so easy to get drugged down into those feelings of negativity, especially when the whole news cycle is talking about how bad real estate is

and how there's not hope for our generation and you can't buy a house now. Don't let your feelings and fears get wrapped up in what the world is saying right now. If timing for you is bad and the market timing is bad, that does not invalidate a lifetime of real estate ownership. To your point, those are different things. Separate those out. I'll give you the first two. The last one, no, I won't give you.

This is The Ramsey Show. I'm going to go ahead and get started. In the lobby of Ramsey Solutions on the debt-free stage, Patrick and Heather are here to do their debt-free scream. Welcome, guys. Thank you. Thank you so much. Good to have you. Where do you guys live? Rochester, New York.

All right. About an hour away from the Snowmageddon. Yeah, really? For real? You just dodged that, huh? We sure did. Wow. Well, welcome to Nashville, where we don't have that.

No, it's gorgeous here. Not very often, but when we do, it's the worst of the worst. Yeah. Welcome, guys. Good to have you. Thank you. Happy Thanksgiving to you. So you're here to do a debt-free scream. How much have you paid off? $84,455. Excellent. How long did this take? 26 months. Good. And your range of income during that time? Anywhere between $120,000 and $155,000. And now, depending on side hustles this year, somewhere probably in the $125,000 to $130,000 range. Very good. What do you all do for a living? We're both teachers.

Both teachers. All right. Good for you. Well done. So what kind of debt was the $84,000? Oh my gosh. It was like everything. It was a whole bunch of normal.

We had some credit cards. We had a couple of cars. We had student loans, a lot of student loans. We have very expensive brains. The great American nightmare, right? Yes, indeed. Oh my gosh, wow. How long have you been married? Almost, well, it'll be four years this spring. Yeah. Okay. So after you've been married for two years, you look up and go, oh, we got to change some stuff. Tell me what happened. You get in the marriage thing, you go, whoa. So it's the second marriage for both of us, and we made far too many money issues, mistakes

the first time around. And we ended up, we got married almost four years ago and we actually lived in two completely separate households for the first year that we were married because you know she had an established home and i had an established home and we just we couldn't put all we actually we have four children and we couldn't like put everybody all together under one roof immediately oh wow so were like, we were saving and saving to be able to do that. And, you know, a year later we finally found a home on foreclosure because who doesn't love a good deal? And then we like paid the closing costs and we're going, man, that was a lot of money. Oh gosh, there's still all this other debt. Oh my gosh, we need to do this God's

way. Oh my gosh, let's get going. And then we just kind of started. Oh, wow. We were each kind of working the proverbial Davish plan, right? We were working it sort of separately, holding each other accountable, and then getting married, we combined our finances, but we're still living separately because circumstances, that's just kind of how it worked.

But seeing that closing cost check go across the table yeah and all of a sudden saying okay it's it's time that really ratcheted up the the intensity for us and it was it was game on from there yeah so what did this journey look like for you guys what did you do to get out of debt it's always good when it starts with a chuckle it well it is and it's funny because as teachers i mean we work we don't work like the 40 hour a week work, you know what I mean? Because I teach English and he teaches chemistry. And so there's a lot of just outside work and a lot of outside planning.

So it was always kind of going, oh man, there's never any time to do anything. There's never any time to do anything. And I direct the musical theater program at our school so that was my primary side hustle for a while until I realized that doesn't really pay a lot so I got another job at Kohl's and that helped out a lot and he was coaching and I've coached I work as a baseball umpire so I work officially eight games all throughout the the region you know in the spring in the summertime so those are the two major side hustles we had but you know

we were like ships in the night for a long time and chasing the kids around and everything else you sold the other two houses though right yeah we did and so then you end up with the one the new one yep the foreclosure one yep okay and then it's game on with the cars and all the mess yeah and we were fortunate enough to be able to finagle from the sale, being able to pay off one car immediately. And then the other one. That kind of gets it started. It really did.

And it was like, oh, wow. It was a good catalyst to get the whole thing moving. It was exciting. How did you connect up with the Ramsey stuff? Well, initially through church. We went through financial peace when we started dating and kind of realized we didn't want money stressors in our relationship. Right. And now we actually coordinate.

We've coordinated a couple of times now. Thank you. We need coordinators right now particularly. Yep. Excellent. And we've enjoyed it both times. Right. Oh, gosh.

And we've had great people and we've gotten to know a lot of really awesome people through the whole thing. We've used ELPs. So you get married, buy a foreclosure combined two households oh and there's a pandemic too yeah that was actually that was awesome i might be the only person in the world i thought so i like i thought so yeah and it saved a ton of money because there was no like, oh, maybe we'll go to the movie. Maybe we'll go do this. There was no opportunity to do that. Oh, not open.

Not open. I had lots of time to watch YouTube videos and figure out how to fix all the stuff we needed to fix inside the house. Yeah. So it worked out well enough. Wow. Yeah. Including your budget.

Yeah. Oh, yeah. I mean, not only do we pay off the debt, but we cash flowed renovations and paid cash for a car when a lease ran out. That was one of the other parts of it, too. It was an awesome place. I got rid of that debt. Got rid of all that, too. Yeah, but God's Providence is so awesome because right at the time when all the used cars, because we were 100% going to buy a solid Dave car.

And then it worked out that a solid Dave car was my three-year-old lease. That was the best deal that we could get because anything else we were going to be paying the same amount of money for. Something with huge amounts of mileage and how many owners and whatever else. Right. So we were like, okay, well, I guess this is it. And then we just paid cash for that and that was real cool. And when I went, apparently people don't buy cars with cash anymore

because I went and they were like okay what do you do you want to finance this and I said no I have a check and I was like the guy was like

okay do you do you need do you need to think about this and I said no I just want to give you the money and then I go do you people take money here and he was like

I don't know I've never done that before and I don't know how long he had been working there or whatever. No, he had never seen money. No, and it took a while. And if you had cash, he would have turned you in as a drug dealer. Well, I asked him, I go, would cash be easier or can I just write a check?

And he's like, no, we don't want the actual cash. No, please, God, no. No, I really wouldn't know what to do with that. Right, right. That would be wild. They were so flustered, they forgot to put the tax into it. So he actually had to go back and write another check. Yeah.

I thought I got a deal. Almost. I thought I got a deal. I mean, essentially we did, but. What a strange world we live in when paying with real money is weird. Yeah. But hey, we like weird here. We do like weird.

It's a lot of fun on this side, we can tell you that for sure. And now we're looking at, okay, so there's only so much left on the house, so let's hustle through that too. What do you all tell people the key to getting out of debt is? Oh, consistency. Yep. Sacrifice. The budget.

The budget. Shared vision. Yeah. Is a big part of it. Without that, it's almost impossible. Big deal. Teamwork. It really matters.

Hey, we got the live and give bundle for you to say thanks for coming all the way to Nashville. We're so proud of y'all. Thank you so much. Thanks for having us. Well done. And that's the Total Money Makeover book, the new Baby Steps Millionaires book, both number ones. You can enjoy them or give them away, whatever you want to do. And a year subscription to our membership to Financial Peace University.

You can give that to someone in your class that's deserving. That would be so cool. Thank you so much. The ability to give and live. You guys are going to be Baby Steps Million That would be so cool. Thank you so much. The ability to give and live. You guys are going to be Baby Steps millionaires before we know it. Well done, y'all. That's the plan. Change in the family tree. Bring the kiddos up. Let's introduce them in ages

and names. Yay! This is Grace and Brennan. Both 12. Ah, perfect. Good, good. Well done, you guys. Excellent, excellent job. Patrick and Heather, Grace and Brennan, Rochester, New York area, $84,000 paid off in 26 months, making $120,000 to $155,000. Count it down.

Let's hear a debt-free scream. Three, two, one. We're debt free! That's how it's done. That's the sound of a family tree being changed. Oh, you got to love it. You got to love it. Man, I'm telling you what.

Hey, guys, speaking of giving away stuff, Financial Peace University on sale for $59, the cheapest prize we've ever done for Black Friday weekend here. And you can buy it to give away that way. Yeah, put somebody through the nine-week class. Financial Peace University changed 10 million people's lives, literally. Ten million people have been through the class. Now, $59.99. Go to RamseySolutions.com slash giveFPU.

RamseySolutions.com slash giveFPU. And you can give it to somebody or give it to yourself. I don't care. Or give it to yourself and a bunch of people. This is The Ramsey Show. Kanskje vi kan ta en kvarter? Happy Thanksgiving, America. Christina Ellis, Ramsey Personality No. 1 best-Selling Author, is my co-host today. This might have been, oh, the last two weeks or so have been the I Told You So Tour, with the crash of FTX and everybody losing all their little Bitcoinies. And I told them not to be doing it, so I've been saying I told you so.

And rather loudly and proudly, I might add. But anyway, I hate people lost money but they really did and also let me just rewind back to um last spring i told you that before the midterms that biden would announce some kind of debt forgiveness program just in time to influence the midterms and that he would and that when you looked into the details of the program you would see that it didn't amount to much but that they would make a big splash like they had really done something and they did exactly that and everyone's talking about Biden forgiving the student loans, Biden forgiving the student loans right up into the midterms. And you notice no one's talked about it since the election. And he came out real quietly this week and said, well, you know,

we're going to suspend the forgiveness program until the court rules on it because the Sixth Circuit Court has now put a permanent stay on it until there's an actual court case involved. It's no longer a temporary stay. They've just put the quietus on this thing and the debt forgiveness program. So, yeah. Yeah, Dave, as I was reading this last night, I had the thought, how did Dave know?

You have called it at every stop along the way so no it's what I would have done if I were a politician with no principles it's exactly what I would have done because it was logical it makes sense it was the it was a very shrewd political move no intention whatsoever no expectation whatsoever that the loans would actually ever be forgiven did not notify the department of education did not notify student dot a dot was student go to student loan dot what's it called student aid dot gov major part of the administration's function to forgive the student loans didn't even tell them ahead of time i mean if you're going to roll out a program that's going to affect uh tens of millions of people you've got to get your staff

ready for this no notice to them whatsoever and then announces it and that tells us right there that you know anything is going to go through i think it's just hard to believe that like these are real people's lives this is you know a generation learning to relate to money and learning responsibility with money and to think that they could just you know have all this confusion and kind of be played with as a political pawn be manipulated by politicians you're so sweet you never thought that would happen i didn't want to believe it would happen dave it's happening yeah and uh so federal student loan bills have been scheduled to resume in january of course they're going to have trouble getting through a house that is now majority Republican. That's not going to happen.

And, of course, then he gets the next shrewd move is, watch this, it's going to, I tried to do it. I tried, but the mean old Republicans wouldn't let me. That's coming next. That's the thing. So the Biden administration on Tuesday announced it will extend the payment pause because it is the one thing they can do on federal student loans until after June, because you should never have to pay your bills because there's inflation that I caused. That note, that isn't what they said, was it? OK, no, that wasn't what they said. Top official at the Education Department recently said student loan default rates could dramatically spike if its loan forgiveness program is thwarted.

You think? Yeah, ain't nobody paying these things so the way we're not going to admit that this uh this uh head fake on the forgiveness thing cause everybody to stop paying uh we're just gonna not make you pay until june so that doesn't show up and by then you'll forget that the reason the student loan default rates went way up was because we told everybody we were going to forgive them and then we didn't. Oh, that's that. Nice moves.

Nice moves. So what does all this tell you? Man, it's been interesting. It's confusing. That's what it really tells you right now. It's kind of unfair and confusing. I actually asked a question on Instagram last night just trying to get people's feelings on it. And the range is so wide.

What was most interesting to me is even people with student loans who are paying off student loans are starting to get frustrated. They're like, just give us clear guidance. Let us know what to expect. This back and forth, this it's going to be forgiven. And yet, wait, all of this is just so confusing. And people are getting really frustrated. I didn't see this. I just saw it in the article i thought they were extending the payment because

economic times are so bad no the education secretary cardona says in a statement we're extending the payment pause because it would be deeply unfair to ask borrowers to pay a debt that they wouldn't have to pay if it wasn't for the baseless lawsuits brought by republicans i told you they were gonna blame yeah we're gonna we're gonna just not make you pay payments because the mean old republicans are not gonna let us do the forgiveness thing that's what she just said dang ouch ding ding ding ding okay moral of the story is this if you wait on this clown show yep both sides of the aisles together you couldn't make a good circus if you mix the whole thing in a stew pot okay if you wait on this clown show if you wait on the island of misfit toys it's called washington dc to

fix your life your life is always gonna suck if you're waiting on a government program to make your life shiny your life's going to suck it's not their job it's not within their power to make your life awesome it is within your power absolutely and so here's a plan. You took out the loan. Pay it back. You owe it. I don't know it. I didn't take it out. And I'm a taxpayer and I shouldn't have to pay your loan. A guy who is a welder and didn't go to college and makes eighty five thousand dollars a year and work 60 hours a week. he's out there in sub-zero temperature somewhere in North America right now welding a building together for you to sit your little butt in shouldn't have to pay your student loan that's not fair

wow mic drop something to think about but I will say if you have student loans right now and you hear this wake-up call and you're going man i don't want to wait on washington i hate this feeling of confusion and you want to get ready to just attack these loans this is a great time to do it there's no interest there's no interest pile on this is not the time to not pay it's the time to pay exactly they gave you more time interest free this is a blessing in that regard you have time without interest occurring to pay off these student loans yeah get it get it knock it out another thing that's really crazy that's happening right now is they're sending out refund checks have you heard about that they're

sending out refund checks in in anticipation of forgiveness So if you're somebody who got a refund check for money you paid during COVID, do not spend that money. Do not spend that money. I actually had somebody reach out on Instagram and said that their student loan servicer send them a refund check that they didn't request. They didn't ask for the money back. They had paid off their student loan, and then they got a check back in anticipation of forgiveness. Okay, yeah, here's a plan. Get these people out of your lives. They're completely incompetent,

and they obviously have an agenda that has very little to do with what's good for you. Their agenda is what's good for them, all of them, including these servicers. All they want to do is keep you in for you their agenda is what's good for them all of them including these servicers all they want to do is keep you in debt yeah literally knowing full well it's going to be a while at best and never at least well and to send out refund checks during the holiday season when people are already feeling a little pressed and it's tempting to see you know all this money in your bank account i paid off my student, and they sent me a refund check.

Oh, that is maddening. I can't even get you people out of my life when I'm trying to get you out of my life. Right. Wow. I know. That one's heavy. Sally Mae just didn't want her eviction notice. She didn't want to be kicked out.

Navient didn't want to be put on the street where it belongs. They're begging you to come back in. They don't want to let you go. Navient didn't want to be put on the street where it belongs. They're begging you to come back in. They don't want to let you go. They don't want you to be free. Yeah. They like you. They love you. They love you.

They think you're great. In the most toxic kind of way. In the worst kind of way, right? Oh, my gosh. They are not your friends. On to a better story on december 14th we're going to do our annual giving show where we talk about generosity and i want to hear from some of you that have got some great generosity stories where you gave and it changed someone's life and you can inspire other people to be generous or whether you received and um you've

got a great inspiring story that way. Send us your giving story to ask at ramseysolutions.com. Ask at ramseysolutions.com. Put giving in the subject line, and the team will be back with you, and we'll get you lined up for that December 14th special edition of The Ramsey Show, all on giving. This is The Ramsey Show. Have you been inspired to make a change with your money?

Want to know where to start? Take our three-minute money quiz to get a plan you can follow. Go to RamseySolutions.com and search for Get Started to get a plan for your money.